Oscuro works for Obsidian now and probably won't be creating another overhaul ever again.
Dev_akm is still on permanent hiatus.
Someone else more minor from the OOO team or someone new altogether might try creating one. I have no idea when. The original Oscuro's Overhaul was released about a month after Oblivion, though of course not in its final form. --- http://i.imgur.com/05ObK.jpg
I hope some new modders come along to replace the god tier Oblivion modders, but I'm not holding my breath... --- 'The surgeon performed a surgical exploration and saw that the mans injuries were incompatible with life.' ....O_o
There isn't nearly the same need for an OOO style mod. That mod originally came out to solve the problem of everything being scaled to your level, and later started integrating other features.
I'd expect to see some combat / magic rebalance mods within the next month, and probably some tweaks to the crafting system. Really though, Skyrim did a good job of integrating some of the most common game-play related mods from Oblivion, so we don't need quite as extensive of an overhaul.
From: Deathwing514 | #006 Sadly the author of marts monster mod from oblivion has stated he will not be making any more mods because of his passion not being there.
Martigen won't be doing it, no, but the person who took over MMM a few years back (I forget his name atm) WILL be doing an MMM-type version for Skyrim. --- norush24minutes and PressTheButton are my 2 alts.